At present, the management of information has become an indispensable tool for carrying out almost any commercial exchange between companies or with clients. This motivates hackers to challenge the limits of legality and ethics when trying to undermine the operation of organizations, regardless of their size.
For this reason, it is important that all companies, even those that have recently operated, consider taking out cyber insurance to protect themselves against this type of threat.
Cyber insurance offers financial coverage if there are losses related to computer attacks or electronic fraud; even events like sending spam (unsolicited email) could significantly harm your business and your online reputation.
In addition to financial support, cyber insurance can offer you professional assistance to help you in critical situations such as communicating correctly with victims and authorities; or it can cover the computer equipment of your business, in case of theft.
Why take out cyber insurance for SMEs?
According to the most recent Cisco report Security Capabilities Benchmark Study, 53% of Mexican SMEs have experienced at least one attack in the last three years, and the most critical thing is that 85% of this type of company will have suffered at least one in the next two years.
54% of attacks result in financial damage, including lost revenue, customers, opportunities, and other costs, which can put your survival at risk, the company says. This scenario forces SMEs to have a better cybersecurity strategy.
Something else: did you know that the National Institute for Transparency, Access to Information and Protection of Personal Data (Inai) can fine your business if your customer data is exposed? The sanctions range from 17,776 to 28 million pesos.
Face a digital attack
In addition to having a digital security tool in your business’s computer equipment, it will be essential that you rely on your collaborators to establish a successful cybersecurity strategy.
The first thing is to be aware of existing threats and face them with appropriate practices, such as avoiding opening unknown attachments or links, as well as taking care of your credentials and passwords.
To provide better protection to your company and ensure the continuity of its operations, the recommendation is to take out insurance.
Among the business offer, the BBVA Cyber Insurance for SMEs stands out, a tool that protects your company against cyber attacks, fines and economic losses.
These are the essential coverages that it offers for your company:
- Cyber attack. In case of suffering one, you have expert advice and, if necessary, they pay the extortion, as well as the expenses derived from legal and technological consulting.
- Information security. Covers defense costs for damages, damages and regulatory fines as a result of the leak of confidential information.
- Incident expense. If necessary, they support you with regulatory legal advice, crisis management, corporate identity restoration and notification services to mitigate the incident, among others.
Additionally, according to the needs of your company, it can cover: Loss of digital information, compensation of utilities, theft of goods, damages to third parties and digital fraud.
Do more for your business and protect it with BBVA Cyber Insurance for SMEs. Learn more here.